Key Takeaways
- • Blackbird, Australia's largest venture capital firm, deployed a record $297 million across 16 companies in the September quarter of 2026, its biggest quarter to date.
- • The firm is on track to deploy more than $1 billion across its funds and co-investment vehicles in 2026.
- • Growth in the later-stage portfolio and a surge in AI investment drove the record quarter, according to the firm.
- • Blackbird is shifting focus toward AI infrastructure, deep technology, and earlier-stage founders, with opportunities expanding beyond the software applications that dominated the first wave of the AI boom.
Summary
Australia's largest venture capital firm, Blackbird, deployed a record $297 million across 16 companies in the September quarter, its biggest quarter yet, according to Capital Brief. The result was fuelled by rapid growth in the firm's later-stage portfolio and a surge in investment in artificial intelligence.
The firm said it is on track to deploy more than $1 billion across its funds and co-investment vehicles in 2026. Blackbird partner Tom Humphrey told Capital Brief, "It's been a really strong quarter."
The later-stage portfolio includes Halter, Heidi, PsiQuantum, Baseten and Airwallex, which have helped underpin the record quarter. Capital Brief reported that these holdings played a central role in the firm's results.
Humphrey said Blackbird is seeing a significant shift in where the next generation of AI companies is emerging. Investment opportunities are expanding beyond the software applications that dominated the first wave of the AI boom, with the firm increasingly focused on AI infrastructure, deep technology, and backing founders at earlier stages.
The figures illustrate how AI is accelerating capital deployment across Australia's venture ecosystem, with larger sums flowing into rapidly scaling companies and the infrastructure underpinning the technology.
The firm said it is on track to deploy more than $1 billion across its funds and co-investment vehicles in 2026. Blackbird partner Tom Humphrey told Capital Brief, "It's been a really strong quarter."
The later-stage portfolio includes Halter, Heidi, PsiQuantum, Baseten and Airwallex, which have helped underpin the record quarter. Capital Brief reported that these holdings played a central role in the firm's results.
Humphrey said Blackbird is seeing a significant shift in where the next generation of AI companies is emerging. Investment opportunities are expanding beyond the software applications that dominated the first wave of the AI boom, with the firm increasingly focused on AI infrastructure, deep technology, and backing founders at earlier stages.
The figures illustrate how AI is accelerating capital deployment across Australia's venture ecosystem, with larger sums flowing into rapidly scaling companies and the infrastructure underpinning the technology.
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